Colorado Springs Real Estate and Community

 

 

Jan. 1, 2020

How do Flat Fee Listing's Work?

Common questions that we come across usually start with how do flat fee listing's work?

   How can a flat fee Realtor offer all the same Services as a traditional Realtor without sacrifice and service? To answer these questions I urge you to think about the following. So 30 years ago realtors were charging 5 to 6% and today they are still charging the same amount.

  A lot of people may wonder why aren't things getting more streamlined with the Internet, Zillow, Realtor.com and everything being online. Well, let's think about it when was the last time you picked up a newspaper or the yellow pages to read it? Or do you just go online and find all the news or phone numbers that are important to you?

  Now a days we can sign everything online no need to print off paperwork and drive to your clients house to have them sign the contracts. So there's no more need for expensive ads in the newspaper, or expensive magazine ads. Now realtors can click submit and ad and it will post to over 300 websites like Zillow, Realtor.com and the MLS.

  Sometimes traditional real estate agents try to say that the flat fee or discount brokers do not have enough experience and that is why they are offering a flat fee. There can be nothing further from the truth. So let's think about this now.

  The average Real estate agent has only four listings in a year. Imagine only 4 Real Estate transactions for a whole year to lean from and chalk up as experience.

  As a flat fee real estate agent we see a lot more transactions due to our great value so that fact alone proves we have more experience due to the simple fact that we see more transactions and all of those transactions are different types of deals. Anything from land purchases and sales, condos, multi family, apartment complexes and the list goes on.

  So we always suggest you make sure you look for experience. No matter what there will always be new flat fee agents and traditional Real Estate agents, so make sure you choose wisely the one that best fits your needs.

In the end, make sure you find an agent that is able to offer you value, experience and knowledge. 

Dec. 31, 2019

What is flat fee real estate?

What is flat fee real estate?

So what is a flat fee realtor? Sometimes people call them discount brokers or value brokers. A lot of time clients believe they do not offer the full service as a regular traditional real estate agents and will cut corners to save cost due to the fact that they offer reduced fees to sell your home. That can be the case in some instances. There are companies out there that will just list your home on the MLS and you will have to manage all the rest. This service is mainly used for, people doing for sale by owner or FBSO.  These are the three most common ways to get your home sold, Traditional Realtors, MLS listing companies (FSBO) and Flat Fee Real Estate brokers.

 

What are the costs associated with selling my home?

So on average a traditional real estate agent charges 5 or 6% Half of the fee goes to the cooperating broker that brings in the Buyer and the other half goes to the listing agent.

MLS listing Service Price varies on location and region on average it is anywhere from $500-$1000. It is always recommended to offer a cooperating broker fee. The reason why is a lot of buyers sign an exclusive right to buy with the real estate agent and they require in some cases 2 1/2 to 3% when completing a transaction. So the buyers would not want to pay an additional fee to the real estate agents just to purchase your home. A flat fee real estate brokerage on average can charge around $3500 for the listing plus a cooperating broker fee thats anywhere from 2.5 to 3%. 

 

What should you look for?

Some companies offer more services than others Not all companies are equally the same. Any realtor, wether its a Flat Rate Realtor or traditional Realtor, they should always offer professional photography. A virtual 3-D tour is best. This saves you a lot of time from unnecessary showings. Make sure they give you a realistic home value for your property. Some agents will promise you the moon and the stars just so you’ll sign a contract.   So make sure you always interview at least a couple agents and find the one thats right for you.

 

Dec. 24, 2019

Do Realtors Avoid Flat Fee Listing's?

So this is a common question, and I have a two part answer for you.

Some realtors may avoid flat fee listings if it is a For Sale By Owner (FSBO).

The realtor thinks they have to do double the work and in some instances they are not offering a cooperating broker fee so they will have to negotiate their fee with the Home seller.

In some cases this is true.

There are a lot of deadlines and requirements that for sale by owners may not know about so the real estate agent will have to inform them and teach them along the way, and a lot of real estate agents won’t have the patience to do that.

Selling a home is a full-time job and agents will need to be able to get a hold of the other agent or for sale by owner (FSBO) and if they are not able to meet the deadlines and the deal may fall apart and all the work they put into it will be for nothing.

On the other hand if you use a flat fee or a value broker to list your property you have an agent representing you that is available day and night and weekends. They will not have an issue showing your property or recommending your property. 

Back 30 years ago real estate agents would have to know what properties are for sale in their neighborhood.

Now consumers are more educated because of the Internet they have Zillow, Trulia, realtor.com to look up property values and what properties are for sale in their neighborhood.

The new modern way is the consumer or client or Homebuyer tells the Real estate agent the homes they want to look at due to the virtual tours pictures and the description online.

Homebuyers look at homes online for 60 days before they ever even contact a real estate agent. So imagine if a traditional real estate agent will not show their client a property that they want to look at because they are a flat fee real estate company.

The client will want to know how does that affect them from buying the home.

So in summary most all agents will work with a Flat Fee Realtor as long as they offer a Cooperating Broker's Fee. 

 

 

Dec. 7, 2019

Are Flat Fee Realtor's Good?

This is a popular question for most home sellers Because most traditional realtors always try to discredit Flat fee realtors.

Common myths About Flat fee realtors

  • They want to list your property to sell very quickly
  • They do not care about your bottom line
  • They do not have a lot of experience
  • They are not full service
  • They are less motivated to negotiate top Dollar

Flat fee realtor myth busters

Myth Bust #1

So every realtor A flat fee realtor or a traditional Realtor wants to price your properties correctly to get the most potential buyers into the property to view it to be able to sell the property.

Myth Bust #2

What other industry charges their clients 6% to complete a transaction. When you buy a car or mutual funds you don't get charged 6%. But no a traditional Realtor thinks it's OK to charge 6%. When you use a flat fee realtor on average they could save you $7500 per Home sale. Let's think about this if you sell three homes in your lifetime and you save $7500 Each transaction and you invest The sum of $22,250 for 20 years, average return of 10% at the end result you would have $149,686.87 in return on investment. Thats making money for your bottom line.

Myth Bust #3

The average Realtor sells 4 Homes a year. At a 6% commission 3% going to the listening to 3% going to the buyers agent And the average home is $337,000 Equals $10,110 Times that by four Equals $40,440 annual income. As a flat fee realtor has to do Triple the transactions to make that amount if they charge $ 3,500. So Around 12 properties a year. So I would say a flat fee Realtor has plenty of experience if not more.

Myth Bust #4

Some Flat Fee Realtors will not offer full service, however many will. It is a question you must ask. Once you find a Flat Fee Realtor that is Full Service make sure they have a minimum of professional photography and offer 3d Virtual Tours. 

Myth Bust #5

When determining the listing price for your home realtors must do a detail property analysis. If they overprice the property clients and potential buyers will not come in to look at your home and then you'll have to reduce the price later on down the road. If you under value more buyers will come look at the property. This starts a bidding war to bring your property value up. We always tell clients the more showings you have the more potential you have for offers. With that strategy you will naturally get top dollar. 

 

So here's something to think about . When you go to a chain restaurant and you have great customer service and you let your friends and family know about the great experience you had. Then you go back to the same restaurant a couple weeks later and you had a different server. This time your experience was horrible because they did not meet your expectations.

This is the same concept in the real estate business. You can have one agent that is a traditional broker be horrible and another agent that is a traditional broker that does great. The same goes for flat fee agents. Just make sure either way you go that the traditional or flat fee agent has experience, training and a proven track record.

Dec. 23, 2018

Banks Profit Big Killing Real Estate Values

Everyone knows now of the slow housing market and the point that several people are losing their homes.  Although there is, another section of the housing market that is rarely talked about but which is being hit hard as well by the present situation.  And the banks - who began the whole "tumble" - and who "greatly profited" in creating the "tumble" - are still making BIG from it!

First, let's talk about the homeowner.  In the 1990's, banks established a GOLDMINE in the housing industry - the equity loan.  They started a huge marketing program to inspire people to take their savings (money) out of their homes and use it.  They advertised that the homeowner could "spend the money on anything you want - a vacation, college tuition, home improvements, new car, whatsoever".  The banks then continued to assess the home over the home's real value and loan people equity close to 125 percent of the home's true value.  This means that people would no more have any savings in their home - they would owe the whole value of the home at that time.  Anybody who didn't take out the money and use it looked at as a foolish person - to have credit cards or pay interest on anything else, when they had money available in the home that they could take from. People used their homes like an ATM.  Anytime the bills got bigger, they just refinanced and took cash out or borrowed on an equity loan. Who made the most with fees and interest? The banks!

Who made more money on these loans? The banks! The homeowners didn't care about the fees the banks charged or the closing costs. The one thing they care was the big fat amount of money they could take out and spend - as if it were the lottery. Who profited big? The banks again.

As times were great and home prices gradually rise, another section of the housing market developed.  In times of wealth, ordinary people turn out to be investors, acquiring homes and condos to give as a rental property.  This is a smart way to save money on taxes and offer those who cannot pay for their own home, by offering a nice place to stay for inexpensive monthly rent.  The other benefit, of course, was the increase on the property and having someone else assist you to pay for the mortgage on the loan.

The issue, however, was that much of the money they use in investing came from home equity loans that they had taken out on their primary homes. The banks made this simple by providing "second mortgages", with huge fees of course, and added payment fees and fines to make sure they made a high profit, irrespective of the life of the loan and with second mortgages; you could buy a 2nd or 3rd or 4th house or condo with very small down. But when the market prices fell and the rise never came, people lose money on the rentals and it resulted in losing on their personal houses also, due to the home equity loans we talked about above.   The only ones still certain of making money?  The banks.

Presently, that people have spent all of their savings in their homes and they owe over the value they could sell the home; many homeowners are letting the house back to the bank...in foreclosure. As many foreclosures as there are, it's still a small percentage of the total market.  Because it is such a small percentage, the banks can "dump" the houses for half of what would be the real value.  This further reduces the market value of the other homes that are for sale.  It's peanuts to the banks, but to the other homeowners out there that have to sell for one reason or another - it's overwhelming.

The worst part is that when the crisis hit, the government introduced programs to bail out, guess who?  The banks!

 

Posted in Real Estate News
Dec. 15, 2018

Beautiful Costa Rica Real Estate For Sale

Costa Rica Eye Consulting is offering property in the beautiful country of Costa Rica. This is a team of  professionals who are dedicated to finding the perfect Costa Rica property for you.

Costa Rica is a politically stable country with low living costs and high quality homes. You will enjoy nice weather because of the geographic position. Access to local foods and fruits give this country small islands feel with the sway of big city facilities.

Costa Rica Eye Consulting has a simple to navigate website which enable finding your dream home or vacation property easy. Not every property is listed on their website as some landlords would like to keep their sales secret. Contacting them will open the opportunities to new private properties.

Clicking on the picture of any property will bring up the all the data that you would need to make an informed acquisition. You will find that several of these properties provide a lot of house for the money.  

If you have ever thought of investing in property in Costa Rica, perhaps now is the time to do it.

In order to have a truly international flair to this website, the script has been written in English, German and Spanish. Supposing you are reading this you will need to view the website in English. To do so click on the British flag in the upper right hand corner of the navigation bar. The email address and telephone number are at the bottom of the page in case you have a question about any of the properties.

About (http://www.costaricaeye.com )

Costa Rica Eye Consulting offers beautiful competitively prices homes in Costa Rica. With great a customer support team and an easy to navigate website you should not have a problem finding an investment property, vacation property or your dream home.

Posted in Buyers Resources
Dec. 10, 2018

Bathroom Design Strategies That Increase The Value Of Your Home

 

With regard to increasing the value to your home, professionals in real estate will be in accord that to capitalize in the bathroom and kitchen practically without a doubt assures viable yields.

In case you're thinking of making your home pleasing to possible buyers, then one of the primary places to begin is in the bathroom. With numerous appliances and accessories on the market, making a choice that will eventually let you gain the rewards is daunting.

With regard to bathroom design, what is it that most individuals actually want? Would picking a large whirlpool bath above a traditional bath be financially valuable in the long run?

Wouldn't designing your bathroom be a much cooler task if you were given a guideline of what elated the fancy of possible homebuyers? In case you're going to design your bathroom make it right the first time round to dodge wasting away hard-earned pounds.

Hello Simplicity

From as far back as the 1960s much emphasis was put on bold color in the bathroom. Patterned wall tiles of nautical creatures and over-the-top colors were the style, together with plastic. Plastic bathroom décor was the craze, from bold orange, mustard yellow, soap and towel holders, olive green and chocolate brown colored toothbrush, to thick patterned plastic shower curtains that screamed colors of the daring nature.

As time went by, the 1970s and early 1980s grow into a period when golden bathroom fixings and furnishing, like taps, toilet roll holders and towel rails, were seen as very stylish. These flashy gold trimmed features were all the fire, and bathroom décor was 'showy'.  Added to this were those once lovely bathroom suites in colors avocado, coral pink, and chocolate brown. Bathroom color has intensely changed over the past years, and shades have become more neutral, sometimes with a hint of color that adds a balancing vigor to the general scheme. 

Of the many hundreds of individuals who took part in Plumb world’s recent bathroom survey, a vast 82% said they “loathed” the once hype avocado and coral pink bathroom suites, colors remnant of 1970's and 1980s, which are naturally characterized as being dark and dull.

As per the survey, chrome bathroom taps were much chosen to gold.

So, when designing and decorating your bathroom keep those dark colors at bay, think about white suites, and pick chrome fixings and furnishings rather than of flashy gold.

Shower power

When preparing the design of your bathroom, one of the most vital features to reflect is putting up a shower. Some bathrooms don't have enough space to comprise a shower cubicle, so evaluate your choices. Think about installing a shower over the bath if space is restricted.

The study showed that 94of its partakers understood that a shower in a bathroom was very vital, and 81% said they favored a different shower enclosure in a big bathroom. Nearly 65% said their best would be a power shower, while 26% preferred mixer showers and just 13%chose electric showers.

If you have selected a shower over the bath, then consider placing a fixed glass screen as an alternative to a shower curtain. It may cost a few more pounds, but over half of the survey's contributors picked a fixed glass screen to a shower curtain.

Choosing Your Bath Tub

Conflicting to common belief, adding a whirlpool bath to increase property value doesn't constantly do the magic.  So in case you're considering selling your home, try to avoid buying a whirlpool bath in the hopes of gaining extra profit.

The survey revealed that close to 53% of its participants were not phased out by them; while only a small 38% of participants “loved” them. Remarkably, 62% said they had “no strong view” towards corner baths either, which implies the traditional rectangular baths still hold power against their spruced up counter part.

Bathroom Flooring

Try to evade the need to place carpets on the bathroom floor; according to the survey, it is not too favored. The survey showed that the ideal floor covering was tiles, with 75% saying they “loved” a tiled bathroom floor. Popular vinyl flooring has not yet lost its place in the bathroom; with over 61% agree that they didn't have any strong likes or dislikes towards it.

When selecting your bathroom flooring, tiles is the favored option, but if the budget is tight, then vinyl flooring won't let you down.

Aside the flooring, ensure your windows look attractive. With regard to dressing your bathroom windows, avoid those bathroom nets and fabric curtains. The study showed that 94% said they liked blinds in the bathroom to curtains.

 

 

Keep it clean

 

 

If you are considering putting your home on the market, review your bathroom for those small normally unnoticed flaws, like mold on the silicone sealant around the bath, and even on your shower curtain if you have one. Possible homebuyers may see these small faults, which could chase them away!

 

 

Posted in Real Estate News
Nov. 27, 2018

Before Moving Anything Into Your New Home

 

Before packing any of your properties into your new house, it’s essential to ensure that everything is just as it should be.  You may have listed some repairs you expected – or this may be the first time you've seen the house empty.

Take some moment to move around with a jotter and check all of the sockets for obvious signs of wear and tear and look for damage that you may otherwise be liable for.

Make sure that all cupboards are empty, free of mold, damp or bad smells, and keep a close note of what were the electricity, water and gas stopcocks are.  While checking this, you'll likewise be getting a feel of the position you can put any furniture, how to get it up any stairs or even just into the house. 

Write down any damage or issues you have to be deliberated with whomever you're dealing with – it’s vital to have these notes before taking anything in so that you can get the issues fixed as soon as possible.

In case you are letting from a landlord, he will give you a list of any fixtures, fittings, and furniture he's leaving – it’s very popular nowadays for landlords to leave 'white goods' – appliances for kitchen, like a freezer, fridge, cooker and washing machine.

If you are letting, your landlord should likewise give you contact details, emergency maintenance numbers and any paperwork concerning these emergency maintenances that may be important to you.  You may likewise want to get bank information’s or arrange a good time to come and take rent.  Any final paperwork can be signed now, and then you can begin making your new place your own.

Also, you should make sure that the central heating and boiler are correctly working and collect any manuals for these from the previous tenant – these manuals will save you a lot of frustration in the long run.

 

Posted in Real Estate News
Nov. 22, 2018

Bargain Real Estate in Costa Rica

 

While real estate prices have increased rapidly in Costa Rica in the last ten years, there are still few deals to be had. If you are interested in buying the only land, a piece of land can be purchased in the mountain areas of Costa Rica from $1,000 to $5,000 per acre, or if you prefer the ocean, land goes for $10,000 to $30,000 per acre. If you acquire 40-50 acres or more, the prices could decrease by half.   The prices in Costa Rica have increased rapidly in the last years, thereby making the real deals in some areas more and more unreachable.

A good alternative for the investors is to look for land parcels ready for development and not a house. Far from the cities, a piece of land can be bought in the mountains and highlands from $1,000 to $5,000 per acre. The lots with ocean views go for $10,000 to $30,000 per acre and the beachfront begin from $50,000 per acre. If the investor chooses to buy in bulk, some 40-50 acre parcels or a bigger plot, the prices could even reduce by half.

As much as homes go, there are still real estates in Costa Rica that are being offered under their market prices.  The reasons for this differ but the major reason these properties are being sold for such a low price is that maybe their owners need to sell them faster.  The majority of properties that you can find at a cheap price are usually located fairly far away from the main cities of Costa Rica. It is difficult to see properties near the main cities at a cheap price. But it is not impossible to find an unusual property near the city that is being sold for cheaper.  Carrying out your research, asking for help from real estate, and looking at listings will pay off for. You might get lucky and find the property of your dream at a good location for a price below market price.

 

Posted in Real Estate News
Nov. 21, 2018

Build Relationships and Leads Will Follow

Beginning a real estate business (or any business for that at all) can be a little nervousness inspiring. The initial stage of getting off the ground is always a challenge. There are plenty of ideas out there on how to get new business, but one of the best ways to build your business is by building on the relationships with your current clients. If you provide outstanding service and carry out the right job, you will get the recommendations. Word of mouth is still one of the best marketing tools a business can ask for.

Every time keep your seller in the loop – provide them with information and updates concerning how their home is being sold, offer prompt response from buyers who have seen the property. Make sure your buyers have the new listings as soon as possible.

 

When your clients seal the deal send a gift card or a bottle of wine. Give a gift for possession. It shows your client that you recognize this milestone in their life, and the personal touch makes all the difference. "When we moved into the new house there was a lovely gift basket filled with fancy preserves, crackers, chocolates and champagne from our realtor," says one new homeowner. "We had a small celebration picnic in our new home."

Think about implementing a survey on customer satisfaction - after your deal is done, give your client an opportunity to give feedback. Set your ego aside and consider this an opportunity. Take the time to really learn from what they say - and find ways to improve in areas that might not be your traditional strengths.

Even after a deal is done, not forgetting your clients will make them believe that they are important, that you appreciate their business. Depending on the client you may want to provide personalized notes, website links, email messages and newsletters.

Not only is this good personal relationship building, it will also build your character as a caring professional earning you more referrals and repeat business. For old clients you might deliberate on lowering your commission a bit, as a thank you for the continuous business.

As much as you might want to, resist from asking clients to refer you. It's cheesy - by providing great service you will naturally come to mind in conversation, which is far more genuine. Continue to offer services that will ensure your name is easily recalled in the community.

One sure way of doing this is by being active in the community - promote fundraising events for local causes, family events, and so on. Go beyond by becoming a community resource - after all this is your market, you should understand it well. You want to be the person others think of when they need info that is local – like where to visit for the best Chinese food in town or what family friendly events are being offered in the neighborhood. Have vast information for new comers and build residents alike. As well develop other sources for referrals: HR departments for corporations in the area and relocation businesses are a good place to start.

When you do get referrals, regardless of where it came from, remember to send a thank you note to the person who referred you.

By building your reputation as a knowledgeable business person who is active in the community and ready to go the extra mile to give outstanding service, you will find your business develops on its own and your reputation in the community will grow with it.

Posted in Real Estate News